When a competitive market achieves allocative efficiency, it is implied that rev: 05_10_2018 Multiple Choice the buyers are getting the maximum consumer surplus from the product. the marginal benefit of having the product is greater than the marginal cost. the combined consumer and producer surplus is maximized. the quantity demanded is lower than the quantity supplied.

Which of the following describes one of the ways that the demographics of an area affect the price of housing in that area? a. when more people have children, their incomes tend to be higher and the housing prices are also higher. b. older people are more likely to stay in their houses, creating a seller's market that keeps prices low. c. an area with a lower population density won't have enough construction workers to build new houses quickly. d. an area with younger people will have a higher demand for rentals and a lower demand for buying.

Which of the following results from the latest decision round is most important in providing guidance to company managers make in strategic moves and decisions to improve their companies competitiveness and rank among the top-performing companies in the current decision round

Suggested retail price of $13,760, destination charge of $475, equipped with ac, cruise control, and a custom sound system for $800, $235, and $510, respectively. the sticker price for a vehicle with the these features and costs is